Suppose that the consumer price index (CPI) was 160 in 2010 and 166 in 2011, inflation during 2011 was
a. zero; prices were stable.
b. 3.8 percent.
c. 6 percent.
d. 66 percent.
B
Economics
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Which of the following is true of technology?
a. Technological improvements are less important today than was true in the past. b. Lack of access to modern technology is a major barrier restraining the growth of low-income countries. c. Often, perverse institutions and policies in low-income countries undermine the potential gains from adoption of modern technology. d. Countries with high investment rates will be unable to apply modern technology effectively.
Economics
Draw the demand curve for a good whose price elasticity of demand is equal to infinity. Be sure to label both axes.
What will be an ideal response?
Economics